A real estate group is coming out in strong support of foreign investment and is beating back suggestions that international buyers are hurting Canadian real estate.
Bob Rennie, the ‘condo king’ of Vancouver, says that there should be a new tax on those who speculate on the property market.
Like the butterfly effect, one country’s foreign investor policy could impact Canada’s real estate market, say experts, funnelling more buyers to already-hot markets across the country.
The Prime Minister and B.C. Premier have both ruled out taxing foreign investors in a bid to curb rising house prices in Vancouver.
Real estate agents and developers in Vancouver say that foreign ownership of commercial property in the city may be overstated.
Kennedy Stewart, the MP for Burnaby, has once again called for a housing study to be conducted by government agencies and for these to include data on foreign ownership.
Nobu Residences is a new condo development by Madison Homes located in downtown Toronto
Learn more about pre-construction condos in one of the hottest Canadian markets
M City Condos is a multi-tower community development in Mississauga and will soon launch this March